The deal, which is in final stages, is expected to give Sequoia and CDC, who are bidding jointly, around 70-80% stake in the Hyderabad-based company for nearly $100 million or Rs 680 crore, sources said.

Patel​​ shot to limelight after helping build the family-run Paras Pharma's consumer health portfolio of brands like Moov, Krack and ItchGuard, which was eventu ally sold to Reckitt Benckiser for around $726 million in 2010.